RBI to Come Out With Guidelines on Refinance

Kolkata: The Reserve Bank of India (RBI) would shortly come out with guidelines on refinance of existing projects as demanded by the industry, Deputy Governor S S Mundra said on Wednesday.

"There is a demand from the industry for refinance of existing projects. RBI will come out with the guidelines soon," Mr Mundra said at a CII interaction here.

He said new projects would get the scope for refinance every five years till the economic life of the projects as already declared.

"But for existing projects, the guidelines will be out soon," he said.

Sounding a word of caution on big projects having thin equity, Mr Mundra said, "There are many projects based on thin equity. This is like skating on thin ice."

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MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.

Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.